SOCIAL FACTORS – BUSINESS ENVIRONMENT Introduction: The main factor that affects most business is the degree of competition – how fiercely other businesses compete with the products that another business makes. The other factors that can affect the business are: Social – how consumers‚ households and communities behave and their beliefs. Legal – the way in which legislation in society affects the business. Economic – how the economy affects a business in terms of taxation‚ government spending
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The Marketing Environment consists of a complex set of interacting forces and influences outside the marketing department of an organization. The Marketing Environment affects the organization’s ability to build and maintain mutually beneficial relationships with its target customers. Through continuous monitoring its Marketing Environment a company must be able to anticipate change and act in a pro active way rather than leaving it to a reactive reaction. It must also keep up to date by realizing
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..............................2 1.1) SITUATION ANALYSIS..........................................................................2 2) MACRO ENVIRONMENT- EXTERNAL ANALYSIS.........................3 2.1) PESTEL.....................................................................................................3 3) MICRO ENVIRONMENT- EXTERNAL ENVIRONMENT................6 3.1) PORTER’S 5 FORCES.............................................................................6 4) MARKET SEGMENTATION
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Heuristics * People answer a question about an object by considering how much the object is a prototype (representative) of the category People judge the probability of a hypothesis by considering how much the hypothesis resembles (is representative for) available data Prospect theory (k&T‚ 1979) The theory describes the decision processes in two stages: editing and evaluation. During editing‚ outcomes of the decision are ordered following certain heuristic. In particular‚ people decide
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Festivals of India Indian festivals are both colourful and extremely joyous. People enjoy the festivals with family and friends. The religious significance of the festivals too can hardly be denied. Here are some of the very popular festivals that take place throughout India. There are many festivals in India like Durga Puja‚Navratri‚Dussehra‚Ganesh Chaturthi‚Holi‚Diwali‚etc. In India‚ festivals do not just offer people a temporary reprieve from their daily grind. Imbued with deep inner significance
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EXTERNAL FACTORS: Environment The environment is the world in which the organization operates‚ and includes conditions that influence the organization such as economic‚ social-cultural‚ legal-political‚ technological‚ and natural environment conditions. Environments are often described as either stable or dynamic. ➢ Stable environment • customers’ desires are well understood • remains consistent for a relatively long time • Examples of organizations that face relatively
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Internal and External Factors of Wal-MartIn 1962‚ Sam Walton opened the first Wal-Mart store and the retailing giant has been rising to success ever since. Various factors have played an integral role in the success of Wal-Mart‚ but without the strong execution of the four functions of management‚ Wal-Mart would have failed like many others. This paper will discuss in detail the how internal and external factors affect the four functions of management. GlobalizationIn 1993 Wal-Mart formed their
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Human impact on the environment Human beings compete with other living things for resources and space. As the world’s population continues to increase‚ and standards of living improve‚ there is serious danger of a permanent change to the global environment. In the year 1800 the population was just 1billion‚ now it is more than 6 billion. With the population increasing the waste produced is also increasing and so is the pollution causing massive changes in the environment. Pollution is a massive
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Internet Marketing: Prospects and impacts on consumer’s online purchase decisions A Dissertation Submitted to the............................................. Submitted By Mayank.......... ACKNOWLEDGEMENT This dissertation is produced to fulfil the partial requirement for Master’s Degree in Management. I am gratefully indebted to my dissertation supervisor‚ Mr. .......................................‚ lecturer and module leader of ..................... College‚ School of Business
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P1 Describe the internal and external factors to consider when planning the human resource requirements of an organization Internal and external factors of Harrods GEBRUIK ARTIKELEN OP FRONTER.COM (ZIE UNIT 16 -> ASSIGNMENT) Internal factors External factors Cost of labour The cost of labour is a percentage of the other cost within a company. The cost of labour depends on whether an organisational is labour or capital intensive‚ as well as the dimension to which the skills needed by that
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